'Dead/Wasted Costs' for placing an offer in Scotland

can_it_be_different

Hi,

I have seen a property with a lot of potential and a very low asking price - offers over £30,000 - 2 bedroomed house in need of a lot of work. There has been no other property in the market that has remotely come near to my budget which this house does.

What I want to consider is how much dead/wasted costs would be involved in making an offer which may turn out to be unsuccessful? i.e. what would you expect a solicitor to charge just for putting in the offer and also the cost of the survey/valution fee. Is there any other wasted costs as I call them for making an offer in the Scottish system.

I want to weigh up whether it is worth putting in an offer.

Thanks, CIBD

arnie&caseysma!

You say this property has a lot of potential. By this do you mean that it only needs done up a bit of is if needing complete refurb? If the latter then you may need to pay a bit more for a survey rather than a basic valuation. I am unsure of the cost but the basic valuation usually is about £140 just now.

Also, many solicitors or conveyancing companies give the first offer free. My first solicitor did not charge for any offers etc, only for the house that I was eventually successful with.

To me the best thing would be to try and get an answer on a verbal offer with the seller subject to survey, at least you know then where you stand as the accepance is still legally binding (not sure how it is proved tho!).

Shop around for conveyancing companies and don't just use your solicitor - I was meant to be selling and buying and my buyer was ending up paying double in fees what I was as she was using a local solicitors!